KUALA LUMPUR (Aug 28): Credit Suisse analyst Joanna Cheah downgraded the recommendation on Padini Holdings Bhd to neutral from outperform.
* Price target (PT) lowered to RM5.90 from RM5.98. Padini average PT is RM5.90.
* Padini had 5 buys, 6 holds, 1 sell previously: Bloomberg data
* Analysts raised their consensus one-year target price for the stock by 12 percent in the past three months. Forecasts range from RM4.77 to RM8.05.
Performance Metrics
* Investors who followed Cheah's recommendation would have received a 32 percent return in the past year, compared with the 46 percent return on the shares.
* In the past two years, Credit Suisse has rated Padini outperform twice and neutral once.
* The shares rose an average 45 percent in the periods rated outperform and rose 8.1 percent in the period rated neutral.